19th Oct 2015 07:00
7digital Group plc
("7digital", "the Group" or "the Company")
Director Dealings
7digital (AIM:7DIG), the digital music and radio services company, announces that it was notified on 16 October 2015 that Ben Drury, Executive Director and Chief Strategy Officer of the Company, sold 2,000,000 ordinary shares of 10 pence each ("Ordinary Shares") at a price of 10 pence per Ordinary Share on 16 October 2015 (the "Sale").
Following the Sale, Mr Drury remains a beneficial holder of 10,038,631 Ordinary Shares, representing approximately 9.3 per cent. of the total voting rights of the Company.
The Sale is part of a planned disposal process for which Mr. Drury will use the proceeds to settle certain tax obligations and for house renovation expenses. Furthermore, Mr. Drury will be transitioning his role within the Company from an executive to a non-executive position from January 1 2016, in order to allow him to pursue other non-competitive business opportunities. There will be a corresponding overhead saving to the Company. Mr. Drury remains committed to 7digital and has no intention to sell further shares.
Enquiries:
7digital Group | 020 7099 7777 |
Simon Cole, Chief Executive Officer | |
Chris Dent, Chief Financial Officer |
finnCap (nominated adviser and broker) | 020 7220 0500 |
Geoff Nash/Carl Holmes - Corporate Finance | |
Malar Velaigam/Mia Gardner - Corporate Broking |
Powerscourt | 020 7250 1446 |
Juliet Callaghan / Simon Compton |
About 7digital
7digital are the power behind innovative digital listening experiences. Their robust, scalable technical infrastructure and extensive global rights are used to create comprehensive music and radio services for leading consumer brands, mobile carriers, broadcasters, automotive systems, retailers, record labels, artists and agencies. Alongside proven product knowledge, they offer award-winning radio production and music curation services, superior editorial strategy and content management expertise, making them a leading partner in this space.
7digital foster industry growth and innovation by simplifying access to music for clients such as Panasonic, Onkyo, Guvera, ROK Mobile, and The Overflow. From their years of being the largest independent producer of programming for the BBC, launching Radioplayer in multiple territories and powering services for partners like Samsung, BlackBerry and T-Mobile, 7digital are perfectly positioned to lead innovation at the intersection of digital music and next generation radio services.
Visit http://about.7digital.com for more information.
Related Shares:
7DIG.L